Buy Dogecoin (DOGE)
The growth of money markets, globalisation, general computerisation and the development of information technology have led to the emergence in our society of a huge number of additional institutions, financial instruments, and new forms of interaction between people. One such institution in today's world is electronic money.
This review will focus on a type of digital currency - cryptocurrency. Nowadays, digital currencies are gaining popularity. However, there are not many people who understand the essence of cryptocurrency, and are familiar with the mechanism of its functioning. To better understand the role of cryptocurrency, the key question is to define its economic nature. In today's world, cryptocurrency is an innovative development made possible by the development of high-speed transmission technologies, when the Internet has grown to a huge scale and decentralised networks have become very popular.
Interest in cryptocurrency is growing rapidly. This is primarily due to the demand for "fair money" in the world, anonymity and protection against counterfeiting.
The topic of our review today is investing in Dogecoin shares in New Zealand.
A short history of Dogecoin
What is Dogecoin (DOGE)? Why is DOGE so beloved by traders? Is this cryptocurrency worth taking seriously?
Dogecoin is a cryptocurrency that was created in 2013 by American programmer Billy Marcus and Adobe software engineer Jackson Palmer.
It was based on a snapshot of Japanese woman Atsuko Sato. In 2010 she published a photo of her dog, Kabosu, on a blog with the caption 'DOGE'. Atsuko Sato did not expect the photo to become so popular. The Dogecoin project was originally conceived as a joke amid the excitement around Bitcoin, which made several spikes in 2013. The image of a dog ended up on the cryptocurrency's logo and became its symbol. DOGE was officially launched on December 6, 2013 and within the first 30 days, the project's website had already been visited by more than a million people.
A fairly active community of users gradually formed around Dogecoin, who subsequently began to note the cryptocurrency's technological advantages. In particular, traders are attracted to the following features of DOGE:
- simplicity and democracy;
- low fees;
- ease of mining;
- instantaneous transactions.
DOGE is a perfect example of everything the cryptocurrency community stands for. The cryptocurrency is fully decentralised, anonymous, secure, and lacks the problem of scalability.
Dogecoin is chosen by many investors: the cryptocurrency is reliable, the volume of capitalization is high, and it has gained the trust of users around the world. The main advantage of investing in Dogecoin stocks in New Zealand is the prospect of growth. Dogecoin behaves unpredictably. But it is precisely because of its volatility that it deserves attention. If you're lucky, you could potentially make good money by investing now.
How to invest in Dogecoin in New Zealand?
Dogecoin is a promising cryptocurrency for investment in 2021. The advantage of Dogecoin cryptocurrency as an investment is freedom of action - only the wallet owner himself can control all asset transactions. There is also no special knowledge or effort required.
If you have made a decision to invest in Dogecoin in New Zealand, you need to decide on the right strategy. The long term strategy is a very simple strategy. It is sometimes referred to as a "buy and forget" strategy. A person buys a certain amount of cryptocurrency and waits for its price to rise. As soon as the price reaches a level that the investor has set for himself, he can sell it.
Short-term investing is relevant for those who do not want to wait a long time to get more return on investment. A short-term strategy is worth breaking down into two stages:
- You need to prepare the capital and break it down so that you can then buy cryptocurrency with it at a certain point in time;
- Then, if its price falls, you should take advantage of it to buy new coins.
For those who choose to invest in Dogecoin in the short term, it will be necessary to find an online broker that offers CFDs on Dogecoin (Contracts for Difference). CFDs allow you to speculate on both rising and falling prices. Trading CFDs offers the advantage of low commissions and leverage, a brokerage service that is a loan of cash or securities provided to the trader for the transaction.
For beginners, successful Dogecoin trading will require some unsophisticated skills and knowledge, such as:
- The ability to use various charts;
- The ability to make buying and selling transactions at the right time;
- The ability to analyse trading history.
How to buy Dogecoin in New Zealand?
If you have decided to become a trader, have chosen an online broker and are ready to buy DOGE, you can register and then make your first deposit. The broker will help you with any questions you may have, including understanding the trading platforms.
How to register?
In order to register on the trading platform you will need to make a few clicks with your mouse. After choosing the online broker you would like to use, you need to go to their website and do the following:
- Fill in the fields with your email address and enter your password.
- Check your mailbox. To do this, open the email you received from the broker, click on the link which will take you to the website to confirm the creation of an account.
After registering, you can open a demo or live account. These details will be enough to get you acquainted with the system and to make transactions. In the future, when you want to make actual transactions and withdrawals, the system may ask for additional information to confirm your identity. This additional information is usually a copy of your identification document.
How to open a Demo account?
You do not have to open a live account right away and earn real money. To start trading on the online trading platform, it is recommended to open a demo account. A demo account is a free practice account, which gives you the opportunity to test how the investment market works, without risking your money. You can use it for as long as you like and without any limits on time and amount.
Opening a demo account is easy. All you need to do after registering on the platform is to choose demo trading.
How to open a real account?
Once you understand how the New Zealand online trading platform works, you can move on to a real trading account. The trading platform offers a wide range of cryptocurrency options. It provides good opportunities for both beginners and experienced traders. You can set a stop loss. A stop loss will help limit your losses when the price reaches a predetermined level. Investment platforms allow traders to open an unlimited number of CFD trading assets. If you have a desire to open a large number of assets, this is a good way to maximize your profits.
How to deposit money?
It is easy to replenish your deposit for investing in Dogecoin. There are different payment methods for that. All available methods of making a deposit are listed in the "Deposit" section. The investment platform provides you with various payment methods. These include credit cards, debit cards, bank transfers and payments via electronic platforms.
Step-by-step instructions for making a deposit:
- Select a payment method with which you can make a deposit.
- Select the type of currency you want to use later.
- Enter the desired deposit amount.
- Fill in necessary data.
Open a deal
Login to your account on the trading platform (the user will need to enter their existing username and password to do so). Select the cryptocurrency you want to trade. The trading platform offers traders a wide selection of cryptocurrencies and provides good opportunities for both beginners and experienced traders. You can trade on the online trading platform in New Zealand with leverage. Leverage is the ratio of an investor's money to the total amount of money they are trading. In other words, it is a service from a broker to provide funds which are several times their own. This will allow you to make larger profits. The simplest option: buy cheap, sell expensive. Once you have analysed the market and see a profitable strategy, you give your broker a deposit and ask for leverage to trade the asset. After you have completed the transaction, you make a profit/loss and settle your account with the broker.
How to withdraw money?
In order to withdraw money from your account you need to log in to your personal cabinet, apply and be verified. Verification is necessary to exclude any fraud and confirm that the account belongs to the rightful owner. For withdrawing funds you may use the same methods as for depositing to the trading account. This could include credit and debit card payments, bank transfers or e-wallet transfers.
Security is one of the elements you may be most concerned about. Remember that your investments will be safe if you choose a reliable broker and a secure internet network.
Trading on the platform is not limited to computers. Smartphones and tablets are indispensable for trading when you are away from your computer.
Trading through a mobile app has its advantages:
- trading without interruption anywhere;
- intuitive interface;
- iOS and Android versions.
Trading platforms allow you to receive information in the form of charts, monitor the assets that an investor has purchased, and provide a news feed with important events of the day. Almost all modern trading platforms offer the unique possibility of placing stop orders, i.e. special requests aimed at reducing losses in the event of an unfavourable price movement.
Innovative trading platforms make investing accessible, efficient and easy to understand. They are very easy to use, multifunctional and easy to navigate. Improve your professional level. Experience and professionalism is the key to your success.
Try and do not doubt, you will succeed!
We wish you success in investing!